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IndoStar to buy CV finance business of IIFL Finance

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IIFL intends to exit this business and focus on its core focus areas of home loans, SME, gold and micro-finance loans. IndoStar Capital, promoted by Everstone Group in 2011, initially started corporate lending business. Since 2015, IndoStar has been building its retail lending business which accelerated last year with the set-up of CV finance.

will acquire majority stake in Shriram Automall India Limited (SAMIL), India’s offline auction platform for pre-owned vehicles from Shriram Transport Finance for Rs 156.37 Cr. As part of the deal,

Indostar Capital Finance (Indostar) commenced operations in 2011. It is primarily engaged in providing structured financing solutions to corporate a well as SME borrowers in India. In 2017, it started providing housing finance through its wholly owned subsidiary – indostar home finance Pvt Ltd (IHFPL) and also began vehicle financing.

HOME BUSINESS FINANCE IndoStar buys CV finance business of IIFL IndoStar Capital Finance Ltd, a lender promoted by private equity fund Everstone Group, announced the completion of its acquisition of the commercial vehicle finance business of india infoline finance, a subsidiary of IIFL Holdings.

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"IIFL Finance will use capital to scale up its core products of affordable home loans, small business loans and gold loans. This allow us to grow, without having to dilute equity in near future.

IndoStar Capital Finance Limited (IndoStar) will buy out the commercial vehicle (CV) finance business of India Infoline Finance Limited (IIFL Finance) with assets under management (AUM) worth Rs 3,949 crore. IndoStar has signed an agreement to acquire the CV finance business of IIFL Finance, a.

Read more about IndoStar Capital Finance completes acquisition of commercial vehicle business of India Infoline Finance on Business Standard. The acquisition includes the entire CV finance AUM of Rs 3,620 Crs. along-with 1,089 employees housed in 161 branches. With this acquisition, the mix between retail and wholesale stands at 62:38.

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MUMBAI: IIFL Holdings Ltd on Monday said its lending business, India Infoline Finance Ltd, has agreed to sell its commercial vehicle (CV) financing unit to IndoStar Capital Finance Ltd, a lender.